All Forum Posts by: Michael J.

Has anyone used this company for rental property loans? If so what do you think?

Cool, thanks for posting the info and link.

When I bought my first property I was much more nervous about it, my second property (first investment prop) I had no reservations at all and felt good about it.

As long as you have decent cash flow and something in the bank for reserves then you should be good. There is always going to be some level of risk in anything worth doing but I think it gets easier as you go along.

Another thing to consider, is your day job the kind that you could easily become employed with another company for comparable pay? If not then you may want to get more reserve money to help float you if it is ever needed, if you can easily get a comparable job then you still need the reserves but you can have more peace of mind that you are able to find another job if you get layed off or fired.

If you use comps to determine the ARV, I'm sure the easiest is to use a Realtor but other than that what is the best way to get comps in an area?

My problem is I am researching possible properties but until I am ready to go I don't want to bother a Realtor so it would be good if there was a way to get comps without a Realtor.

Some obvious ways that I can think of is pull up records in the court house for properties that have sold in the area and try to pick out the ones that are similar to your property, use Zillow, Zillow is great but there are not many properties listed in my area.

Any other ideas?

Do you use Quicken Rental Property Manager or is there another version like for contractors?

White is more standard, I think wood trim needs to be very fancy and nice looking for it to appeal to people. Pine trim with stain won't look very good.

I've been involved with Real Estate for a few years now but have not taken it to the next level yet. I will soon though, my got cancer about two years ago so that really put a halt to my plans but I am planning on doing a lot more business now that things are getting better. I have a few rental units at the moment but hopefully my next project will be a rehab and sell deal followed by more rehabs and more rentals.

My plan is to have maybe 6 months to 1 years worth of living expenses like mortgage, food, gas ect., that's going to be hard but if things work out well enough to do it full time then it should be possible. The trick is I need enough cash flow and current investments to hold me when I quite my job, unless I am really in business then it might be hard to get financing so more capital will be needed.